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Credit card debt/mortgage
Misty911
Posts: 1 Newbie
Hi,
I’m hoping someone can help.
So long story short... I’m in The process of selling and moving to a new house. From the proceeds of the house sale I’m going to be paying off all my debt (credit cards and hp) and I’m not quite sure where I stand with regards to applying for my new mortgage.
I don’t want to have to declare my debt due to paying it off, but I need to organise my new mortgage before I can pay it off. If I have to declare it, it’s obviously going affect how much I can borrow.
Has anyone got an insight into what to do?
I’m hoping someone can help.
So long story short... I’m in The process of selling and moving to a new house. From the proceeds of the house sale I’m going to be paying off all my debt (credit cards and hp) and I’m not quite sure where I stand with regards to applying for my new mortgage.
I don’t want to have to declare my debt due to paying it off, but I need to organise my new mortgage before I can pay it off. If I have to declare it, it’s obviously going affect how much I can borrow.
Has anyone got an insight into what to do?
0
Comments
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Yes.
You enter it all and if there is one, you press the "to be repaid on or before completion" button next to each entry.
Be careful. Some lenders will not ignore such debt. They will assume you will simply re-draw it after completion.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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